Issue - meetings

The Chairman congratulated the Council Finance team on their recent outstanding award.

The Chairman then introduced the report which provided an update for Business Planning and the assumptions for the Medium Term Financial Strategy (MTFS) for 2022-26, whilst giving an update on the expectation of savings required from Theme Committees.

The report sought approval for a number of routine financial management matters, in line with financial regulations, including budget virements and updates to the programme of capital investment.

The Committee noted that the following additional document had been published with the reports for this item:

Addendum to Business Planning: Amendment to Section 3 Routine Financial Matters (2021/22 Budget Management).

Following consideration of the item, the Chairman moved to vote on the recommendations as set out in the report.

The vote was recorded as follows:

The Committee RESOLVED:

That in respect of business planning for 2022-26:

1.     To note the higher than usual uncertainty in the following three areas (para 2.7):

·       Estimates for ongoing service demand and income pressures due to the impact of Covid-19;

·       Flexibility around social care precept; and

·       Level of grant funding as a result of the Spending Review 2021.

2.     to note the three scenarios (A, B – base case, and C) modelled for the Medium Term Financial Strategy for 2022/23 and the preliminary assumptions for future years (from para 2.12; also appendix A)

3.     to requests theme committees to find savings based on MTFS scenario B (base case) taking into account any equalities impacts. These savings will then be referred to Policy and Resources for consideration and at a later stage be subject to public consultation and an updated equality impact assessment. In respect of routine financial matters for 2021/22:

4.     to approve the proposed revenue budget virement for 2021/22; set out in paragraph 3.1 (£0.900m from contingency to the 18-25 years service).

5.     .to approves the revised Capital Programme and financing of it; from paragraph 3.2 (also appendix B) including scheme slippage, accelerations, additions, and deletions.